Tech Executive Shoots CEO, Kills Self After Being Demoted

A Chicago executive is dead today after critically injuring his boss and then killing himself following a recent demotion.

Chicago police superintendent Garry McCarthy told the Chicago Tribune that alleged shooter Anthony DeFrances had been demoted last Friday due to company downsizing and was reportedly "despondent."

The victim, identified as Steven LaVoie, was allegedly taken to Northwestern Memorial Hospital, where he was in critical condition after suffering gunshot wounds to the stomach and the head, reports the Los Angeles Times.

DeFrances was the CTO of ArrowStream, a company that handles supply-chain management technology. A source for the Tribune reports that LaVoie was friends with the alleged shooter, saying, "They had been friends for years—a congenial relationship between two friends."

ABC News reports that an eyewitness, Stanley Freddo, noted that there are no metal detectors present in the building, stating, "Maybe we should have those."

[Image via AP]